Press release

Dear shareholders,

Our Annual General Meeting on April 22 marked a pivotal milestone for the Group. Following a strategic review, we have clarified our business model around three core pillars: Chocolate, our growth engine and the core of our value creation; Real Estate, a self-financed pillar of financial stability; and a new investment division focused on private equity funds.

This issue of our newsletter is dedicated to our investment in Jeff de Bruges, of which we are now the sole shareholder. This acquisition will enable us to achieve our ambition for the Chocolate segment: €400 million in revenue and €80 million in EBITDA (excluding IFRS 16) by 2030. The Chocolate pillar will now receive at least 60% of our future resource allocations.

In the following pages, we feature an interview with Dennys Larrieu, CEO of Jeff de Bruges; review the brand’s business model and network and explain how our two chocolate houses, Jeff de Bruges and Neuhaus, are now working more closely together, while each maintaining its own identity.

Enjoy the read,

Benoit Deckers

This press release has been translated into English.
In the event of divergence, the French version shall be final.